Resource Mining (ASX:RMI) exercised the option to acquire AuKing Mining's (ASX:AKN) rights, obligations, and interests in its joint venture arrangements in Saudi Arabia, according to a Thursday Australian bourse filing.

Resource Mining's interest in the joint venture company, Segia al Haditha Mining, will be 50%.

No consideration is payable by Resource Mining to AuKing regarding the exercise of the option, other than Resource Mining's agreement to assume all of AuKing's obligations under the joint venture and to assist partner, Barg Alsaman Mining, to secure the Shaib Marqan license, which has now been granted, as well as for the start of exploration activities at the Wadi Salamah project.

The license is highly prospective for gold and base metals, it noted.

Assay results from recent rock chip sampling at Shaib Marqan will be available in the coming weeks, Resource Mining Chairman Asimwe Kabunga said.